Can’t Afford to Buy a $3 Million Ferrari Enzo? Lease One Instead<br />“It’s a cash management tool,” Mr. Reed said, “except these guys like a lot of cars.”<br />Richard Koppelman, president of Miller Motorcars, which sells exotic brands like Bugatti, Pagani, Aston Martin<br />and Rolls-Royce in Greenwich, Conn., said a common misunderstanding about leases for exotic cars was that a sign-and-drive program was available.<br />The lease allowed me to have the car.”<br />Today, Mr. Ceno has a collection of exotic cars worth millions of dollars, and far more than the hundreds of thousands the cars initially cost.<br />“And if you go to the bank, no one is giving you a loan like that on a 1958 car.”<br />He said a typical lease from his company for a car like that would be five years, with $1 million down and monthly payments of about $20,000.<br />Mr. Posner said a typical five-year lease on a 2017 Pagani Huayra, which costs $2.8 million, would require $1.5 million down.<br />Other than a monthly payment equal to the total cost of many new cars, one big difference between customized leases<br />and manufacturers’ leases is what happens to the car at the end of the lease.<br />But as his interest in collectible supercars — so called<br />because they are the fastest of the fast — outpaced his capacity to pay for them, Mr. Ceno found a way to have his dream cars: He leased them, even though they cost hundreds of thousands of dollars, and sometimes millions.
